Page 16 - Loop Hole News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Everyone across the board. george bush with his tax cuts, everyone across the board. even j.f.k. are you disappointed and maybe just the mass reality, congressman, that everyone won't here? >> well, right now the problem with our tax code is it's a series of winners and losers. 10,000 pages of items that if you didn't get a special interest loop hole, you lose out. let's get rid of that and lower tax rates for everybody. i understand if somebody is taken advantage of right now patchy frost an existing part of the tax code and that goes away, they're not going to be happy that it goes away. whe...

>> the massive magazines legal. the parts to turn a semi automatic weapon into fully automatic rifle also legal. >> this is pieces of what makes it a fully automatic firearm. interestingly enough, you can buy this online. >> and the las vegas shooter may have used another modification. this is a slide stock. perfectly legal aftermarket component, according to the manufacturer video it's easy to assemble on assault rifle the results technically don't make a machine gun ask yourself if can you tell the difference. the slide stock is legal to buy and use. former aff agent sam roberty calls did it...

You're going to save $1,000. but they're having a hard time marketing it. >> it's very true. people are suspicious that they're going to get a tax cut that someone else always gets the tax cut. the issue of the state and local taxes being deductible on the federal return is a thorny one. i noticed cohn described that as a loop hole. and upper middle class people from the higher income, higher taxing states like new york, connecticut, california are not going to view that deduction as a loop hole and will put up a big fight, democrats and republicans. >> i got to go here, josh. is this thing co...

Carried interest deduction. it's used by private equity firms. thus if you don't get rid of it for private equity firms, you're not getting rid of the loop hole. i don't think people don't realize that they just caved on this. unless he misspoke, because i don't think he did. they're not fighting over deductions. if they're going to keep the deductions in, you'll have a find over -- >> neil: and a rate-to-rate comparison. also at the same conference, mnuchin said if we're running late with this thing, correct me if i'm wrong, i'd be very eager, open to retroactive tax cuts. whatever we come up...

And every loop hole, whatever you want to call it. they're going to do the ground work they hadn't done before to try to bring people on board. >> a lot of people noted the president didn't come out yesterday. as you say, he's going to talk about it in pennsylvania over the weekend. but does he need to get more ahead of this than he did during the health care fight, tamra? >> this is going to be a long slog. if he's going to be announcing a long slog, maybe he's not invested. maybe he could tweet or say never mind that. sort of uncertainty is something the white house -- that the white house s...